Oparanya breaks silence on Moi University SACCO liquidation
By Mustafa Juma, August 6, 2025Cabinet Secretary for Cooperatives and MSMEs, Wycliffe Oparanya, has broken his silence on Moi University Savings and Credit Society (MUSCO) liquidation concerns.
Oparanya, on Wednesday, August 6, 2025, appeared before the Senate to respond to mounting concerns over the controversial liquidation.
During his session with the senators, Senator Margaret Kamar demanded transparency and the protection of members’ savings.
“MUSCO members deserve clarity and protection of their savings during this process,” Kamar said.
In his response, Oparanya disclosed that his ministry had engaged private firms to conduct audits of MUSCO’s finances up to the year 2021.
He assured the House that arrangements were underway to complete audits for the remaining years.
“We’re committed to completing the audits and ensuring full accountability,” he said.
Stakeholder involvement
On the issue of stakeholder involvement, Oparanya clarified that a liquidation committee had already been formed.
He added that the Ministry had held consultations with key stakeholders, including the Uasin Gishu County Government, through the Intergovernmental Relations Technical Committee.
Addressing the calls for reinstatement of MUSCO’s back-office certification, the CS explained that such reinstatement is legally impossible.
He cited existing cooperative laws which prohibit the re-registration of deregistered cooperatives, noting that no valid appeal had been lodged within the legally mandated 30-day window following deregistration.
Oparanya also updated the Senate on the implementation of a task force report on the matter.
He confirmed that the ministry received the report in January and is currently developing a concept note to guide its implementation, taking into account recommendations from the Senate.
MUSCO liquidation
In 2018, Moi University Sacco had its licence revoked and was later placed under liquidation the following year. The then Commissioner for Co-operative Development, Mary Mungai, cancelled the registration of MUSCO and appointed two liquidators to take custody of the society for a year.
In November 2019, the then Acting Commissioner for Co-operatives Development, Geoffrey Njang’ombe, moved in with liquidators into Moi University SACCO to recover cash belonging to members of this society.
Moi University Sacco members have in the past held demonstrations in Eldoret, protesting against the sale of Musco towers, the Society’s HQ, by Co-operative Bank of Kenya.
The lender’s unpaid construction loan had accumulated to over Ksh600 million against Moi University Sacco Tower, which is valued at Ksh350 million.